“New Developer Secures Plans for 16-Story High-Rise in Orlando”

"New Developer Secures Plans for 16-Story High-Rise in Orlando"

The 550 Mariposa project, located just south of Lake Eola in Orlando, has a new developer – The Shoma Group. Previously pursued by New York-based Lexin Capital, the 16-story high-rise with 17,160 square feet of retail space has been rebranded as “550 Shoma.” Along with residential units ranging from one to three bedrooms and live/work units, the tower will also feature a new location for Shoma Bazaar – the group’s culinary concept offering a food hall experience.

Originally filed by Lexin Capital in April 2022, construction on this development is set to begin in second-quarter 2024 and expected to be completed sometime in 2026. In addition to its amenities such as fitness center and pool area for residents’ use, there will also be a business center and co-working cafe available. Other perks include a yoga studio , movie theater , dog spa , storage units among others.

This planned Orlando high-rise project has now secured The Shoma Group as its developer.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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